Inflight Wi-Fi provider Gogo dusts off IPO plans

A new Wi-Fi box and cabin antenna on an American Airlines new Boeing Sky Interior 737. (Brad Loper/The Dallas Morning News)

Itasca-based inflight Wi-Fi provider Gogo dusted off its plans to go public on Monday, saying it is seeking to raise between $165 million and $187 million in an initial public offering.

Gogo, which as of the end of April had its WiFi system installed on about 81 percent of Internet-enabled North American commercial aircraft, first filed IPO documents in December 2011. But it turned to debt financing amid an uncertain IPO market, arranging a $135 million credit facility last year and boosting that line by $113 million in April.

In a Monday filing with the Securities and Exchange Commission, Gogo said it is planning to offer 11 million shares at $15 to $17 apiece.

Gogo's Wi-Fi technology can be found on carriers such as American Airlines, United Airlines, Delta Air Lines, AirTran Airways and Virgin America. The company has a network of land-based cellular towers that connect to equipment onboard about 1,900 aircraft. This air-to-ground technology allows fliers to surf the Web on their mobile devices or laptops. Gogo has also developed satellite technology for international flights and signed an agreement in March with Delta to provide connectivity services on the airline's entire international fleet of 170 aircraft.

According to Gogo's Monday filing, the company generated $70.75 million in revenue in the first three months of 2013, compared with $54.3 million in the same period last year. However, its net loss for the period widened to $32.45 million from a loss of $17.6 million a year ago.